What is the relationship between Authority Brands Payments SPE LLC and Benjamin Franklin Plumbing?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
AB Assetco wholly owns the following Special Purpose Entity ("SPE") entities:
- x The Cleaning Authority Franchising SPE LLC ("The Cleaning Authority Franchisor")
- x Homewatch CareGivers Franchising SPE LLC ("Homewatch Franchisor")
- x Mosquito Squad Franchising SPE LLC ("Mosquito Squad Franchisor")
- x ASP Franchising SPE LLC ("ASP Franchisor")
- x Benjamin Franklin Franchising SPE LLC ("Benjamin Franklin Franchisor")
- x Mister Sparky Franchising SPE LLC ("Mister Sparky Franchisor")
- x One Hour Air Conditioning Franchising SPE LLC ("One Hour Air Conditioning Franchisor")
- x Monster Franchising SPE LLC ("Monster Franchisor")
- x STOP Franchising SPE LLC ("STOP Franchisor")
- x DoodyCalls Franchising SPE LLC ("DoodyCalls Franchisor")
- x BuyMax SPE LLC ("BuyMax")
- x Successware SPE LLC ("SuccessWare")
- x Junkluggers Franchising SPE LLC ("Junkluggers Franchisor") formed in 2022
- x Screenmobile Franchising SPE LLC ("Screenmobile Franchisor") formed in 2023
- x Authority Brands Payments SPE LLC ("AB Payments") formed in 2023
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 FDD, Authority Brands Payments SPE LLC ("AB Payments") is a Special Purpose Entity (SPE) wholly owned by AB Assetco LLC. AB Assetco LLC is a direct subsidiary of Authority Brands Inc. Benjamin Franklin Franchising SPE LLC ("Benjamin Franklin Franchisor") is also a wholly owned Special Purpose Entity of AB Assetco LLC. Authority Brands Payments SPE LLC was formed in 2023.
In simpler terms, Authority Brands is the parent company that owns several franchise brands, including Benjamin Franklin Plumbing. To manage these brands, Authority Brands uses a structure of subsidiary companies, including AB Assetco LLC, which then owns several Special Purpose Entities (SPEs). Both Authority Brands Payments SPE LLC and Benjamin Franklin Franchising SPE LLC are SPEs under AB Assetco LLC, meaning they are sister companies within the Authority Brands structure.
For a prospective Benjamin Franklin Plumbing franchisee, this corporate structure means that the franchise agreement is with Benjamin Franklin Franchising SPE LLC, not directly with Authority Brands Inc. Authority Brands Payments SPE LLC is another entity within the same corporate family. The FDD does not specify the exact purpose of Authority Brands Payments SPE LLC, but SPEs are often created for specific purposes such as managing payments or holding assets.
It is important for a potential franchisee to understand this structure because it clarifies which entity they are contracting with and the relationships between the various entities within the Authority Brands organization. While Authority Brands Inc. is the ultimate parent company, the franchisee's direct dealings will be with Benjamin Franklin Franchising SPE LLC.